oligopolies and perfect competition

The book industry consist of many businesses involved in the publication and distribution of educational textbooks that are written for a specific audience as well as a variety books for the general consumers who are reading for pleasure. Compare this market structure with that of a perfectly competitive industry in terms of main features/characteristics profit maximizing price and output (4 marks) ii. (2 marks) iii. long-run profitability (2 marks) iv. allocation efficiency